Arthur Rock facts for kids
Quick facts for kids
Arthur Rock
|
|
|---|---|
Rock in January 2003
|
|
| Born | August 19, 1926 Rochester, New York, U.S.
|
| Alma mater | Syracuse University (BA, 1948) Harvard University (MBA, 1951) |
| Occupation | Venture capitalist |
| Known for | Early investor in Intel and Apple Computer |
| Spouse(s) | Toni Rembe |
Arthur Rock (born August 19, 1926) is a famous American businessman and investor. He lives in Silicon Valley, California, which is a hub for technology companies. Arthur Rock was one of the first people to invest money in big companies like Intel and Apple. His early investments helped these companies become successful.
Contents
Arthur Rock's Early Life
Arthur Rock was born on August 19, 1926, and grew up in Rochester, New York. He was an only child. His father owned a small candy store, and Arthur helped out there when he was young.
He joined the U.S. Army during World War II. However, the war ended before he was sent overseas. After the war, he used the G.I. Bill to go to college. He earned a degree in business from Syracuse University in 1948. Later, he got his MBA from Harvard Business School in 1951.
Arthur Rock's Career in Tech
Arthur Rock started his career in 1951 as a financial analyst in New York City. He then joined Hayden, Stone & Company. There, he focused on helping small, new technology companies find money.
Helping Start Fairchild Semiconductor
In 1957, a group of eight talented scientists left their old company, Shockley Semiconductor Laboratory. They were known as the "traitorous eight." Arthur Rock helped them find a new path. He convinced a businessman named Sherman Fairchild to start a new company for them. This company became Fairchild Semiconductor.
Founding Davis & Rock
In 1961, Arthur Rock moved to California. He teamed up with Thomas J. Davis Jr. to create their own company. It was a venture capital firm called Davis & Rock, based in San Francisco.
Investing in Intel
In 1968, two key people from Fairchild Semiconductor, Robert Noyce and Gordon Moore, wanted to start a new company. They also brought in Andy Grove. Noyce contacted his friend Arthur Rock for help.
Rock explained how Intel got started: "Bob [Noyce] just called me on the phone. We'd been friends for a long time... Documents? There was practically nothing. Noyce's reputation was good enough." Rock quickly raised $2.5 million from investors. Intel was officially started on July 18, 1968. Arthur Rock became Intel's first chairman.
Investing in Apple Computer
In 1978, Mike Markkula from Apple Computer introduced Steve Jobs and Steve Wozniak to Arthur Rock. Rock bought 640,000 shares of Apple Computer. He also became a long-time director on Apple's board.
Other Key Investments
Arthur Rock's investments and advice helped many other companies grow. These include Scientific Data Systems, Teledyne, Xerox, and the Nasdaq Stock Market.
Understanding Venture Capital
During the 1950s, it was hard to get money for new businesses. Arthur Rock was a pioneer in this field. He is often given credit for popularizing the term "venture capitalist." A venture capitalist is someone who invests money in new companies that have a lot of potential to grow.
Rock's Law Explained
There is a concept called "Rock's law," also known as Moore's second law. It is named after Arthur Rock and Gordon Moore. This law says that the cost of building a factory to make computer chips doubles every four years. As of 2023, building such a factory could cost around $20 billion!
Rock's law is like the economic side of Moore's (first) law. Moore's law states that the number of transistors on a computer chip doubles about every two years. This growth in chip power requires huge investments. Successful tech products bring in more money, which then gets reinvested to make even more advanced chips.
Helping Others: Philanthropy
Arthur Rock has given a lot of money to help others. This is called philanthropy.
Supporting Education
In 2003, he donated $25 million to the Harvard Business School. This money helped create the Arthur Rock Center for Entrepreneurship. He and his wife, Toni Rembe, also started the Arthur & Toni Rembe Rock Center for Corporate Governance at Stanford University.
Mr. Rock also co-founded The Basic Fund. This fund gives scholarships to children from inner cities to attend private schools. He is also involved with Teach For America and the Children's Scholarship Fund. He actively supports KIPP schools, which are public charter schools.
Political Donations for Education
Rock has also donated to political causes, especially those related to education. He has supported over 30 school board elections across the country. For example, in 2021, he donated over $500,000 to the 2022 San Francisco Board of Education recall elections.
Awards and Recognition
Arthur Rock has received many awards for his achievements:
- 2007: Achievement in Business, Corporate, and Philanthropic Leadership from the American Academy of Arts and Sciences
- 2002: Business Leader of the Year from the Harvard Business School Association of Northern California
- 2001: Visionary Award from the Software Development Forum
- 1999: Private Equity Hall of Fame
- 1999: Lifetime Achievement in Entrepreneurship & Innovation Award from the University of California
- 1997: Arents Award from Syracuse University
- 1995: California Business Hall of Fame
- 1989: Golden Plate Award from the American Academy of Achievement
- 1987: EY Entrepreneur of The Year Award Recipient, Northern California Region
- Medal of Achievement from the American Electronics Association
- Junior Achievement Hall of Fame
- Bay Area Business Council Hall of Fame
Personal Life
Arthur Rock is married to Toni Rembe, who is a lawyer. They both support Teach For America. This organization even named its annual Social Innovation Award in their honor.
Arthur Rock was played by actor J. K. Simmons in the 2013 movie Jobs, which was about the life of Steve Jobs.
See also
- Triumph of the Nerds
